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Coronavirus And Your Money
Description
The novel coronavirus threatens life, business, and the economy.
11 years of U.S. economic expansion could end soon.
(**The entire episode transcript is below. You can read along as you listen.)
Closed businesses mean that supply chains are disrupted. This could make it difficult for flippers and value-add apartment projects.
Travel, hospitality, and leisure business troubles mean that short-term rentals like AirBnB will have high vacancies.
Short-term rentals cater to business travelers and vacationers - both vulnerable in this downturn.
Long-term rentals are better positioned. As long as people are alive, they need a home.
Mortgage interest rates have hit their lowest rate EVER since they've been tracked in 1971.
The Fed made a 0.5% emergency rate cut. Expect more cuts. This punishes savers and rewards borrowers.
Stocks recently fell more than 20% from their recent high; that's the definition of a bear market.
Coronavirus' effects are fast-moving and no one really knows the future. This is uncharted territory.
With this in mind, I'd expect real estate to fare better than other asset classes. Also expect:
Stronger: dollar, bonds, gold.
Weaker: many stocks & businesses, short-term rentals, oil, silver.
The unemployment rate will likely rise; I discuss what this means for your tenants.
Low mortgage interest rates can be locked in for 30 years, outlasting the coronavirus pandemic.
Check out our two new property providers in Orlando and Des Moines: getricheducation.com/orlando and getricheducation.com/iowa
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Peak Prosperity YouTube Channel
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Complete episode transcript:
Welcome to Get Rich Education. I'm your host, Keith Weinhold. The coronavirus, COVID-nineteen, has infected humans and financial markets too.
This creates both problems and opportunities for you, the investor. Today, on Get Rich Education.
Welcome to GRE. From Uruguay to the Ukraine to the UAE to the USA and across 188 nations worldwide, this is Get Rich Education. I'm your host, Keith Weinhold.
Yeah, you're back in that abundant place, where your QUALIT